Binance IEO Harmony Protocol (ONE) hits 7x from price, holding steady

01 Jun, 2019
Analysis
Binance IEO Harmony Protocol (ONE) hits 7x from price, holding steady

Binance recently completed their fifth Initial Exchange Offering with Harmony Protocol trading going live earlier today.

The Harmony Protocol token (ONE) went live for trading this morning and immediately hit a low of 110 sats, a 300% gain from the IEO price. The token has managed to hold above the IEO price of $0.003175, or 36 satoshis. 

Currently ONE has stabilized at 250 satoshis, a 6.9x gain from the IEO price, where it currently remains. Most Binance traders have been cautious to the fact that previous IEOs on Binance have seen substantial dumps in price after listing, and only recovering weeks after the completion of the IEO. ONE appears to be different in this case, already making investors who successfully participated in the IEO, a healthy 700% gain in price. 

Based on twitter sentiment, traders are entering ONE with caution as a massive dump could be expected at these prices, and caution should be taken whenever a new IEO opens for trading on Binance. 

With the positive sentiment in the market at the moment, it is very likely that the ONE IEO is reacting more positively to the latest bull trend that has been happneing over the past month, and could remain well above the IEO price at this rate.

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Read more about: Binance

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